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Paramount announced today they will pause their acquisition of AEW broadcast partner Warner Bros. Discovery (WBD) until 6/2/27 or the lawsuits challenging the merger between the two companies are completed.
Both the Writers Guild of America and a coalition of State Attorney Generals have filed federal lawsuits challenging the merger, alleging it will lead to less competition in the film and television industries, as well as far less jobs in the entertainment realm.
Deadline.com reported:
"In a filing in federal court on Friday, the attorneys for the parties wrote, “The transaction at issue in State of California and Writers Guild shall not close, be consummated, or otherwise be completed and Defendants will not take any steps, directly or indirectly, to integrate or consolidate their operations pursuant to the Transaction until the earlier of (1) five days after the merits determination in these matters, or (2) June 1, 2027. This stipulation and order extends to Defendants’ agents, officers, servants, employees, attorneys, and other persons who are in active concert or participation with Defendants.”
A Paramount spokesperson said, “Today’s agreement is a significant win because the result is exactly what we have sought from the outset: a direct path to a trial based on the evidence. This is the fastest and clearest way to prove that this transaction is good for competition, good for consumers, and good for creators, a conclusion dozens of competition authorities around the world have already reached. Plaintiffs’ market definitions bear no relationship to the realities of today’s marketplace and cannot withstand scrutiny. We look forward to proving our case at trial.” "
AEW has been with WBD since it first debuted on television in the fall of 2019 with programming on TBS and TNT as well as TruTV on occasion.
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